Conventionally, when an entity opened a database unit associated with a financial account, a signature card was assigned to the database unit. The signature card included personally identifiable information relating to database unit users with signatory permission.
Typically, each user with signatory permission has been required to sign the signature card, and to pencil in personally identifiable information onto the signature cards to verify his or her identity. Subsequent signers may have been able to view personally identifiable information which was previously penciled into the signature card by earlier signers.
Additionally, upon completion of receipt of signatures and personally identifiable information from all required signatories, the signature card has been scanned and stored as an image in an image database. Image databases are cumbersome, expensive and slow. Storage of the card as an image also exposes the personally identifiable information to a non-secure channel. For example, the personally identifiable information may become exposed to an operator verifying an official document against the signature or information of the card.
Also, each signer may be required to sign numerous signature cards for each database unit with which the signer is associated. Signing and entering numerous signature cards may encumber the individuals required to sign the signature cards.
Similarly, when a change is made to a signature card, additional papers are attached to the previously stored image. The additional papers include information for adding or removing signers. This has complicated the process of reviewing the signature cards in order to ascertain the appropriate signers. Additionally, when a signer left an entity, his or her personally identifiable information remained on the signature card. Maintaining personally identifiable information relating to legacy signers has generated unnecessary exposure of the identity information.